Pearl Law Firm Files Claims Against New York Broker William Tatro and His Firm

When financial advisors like William Tatro purportedly fail to provide suitable investment recommendations to their clients, it can lead enormous losses to customers who can ill-afford to lose their nest eggs. Hundreds of Tatro’s victims retained Pearl Law Firm to represent them to recover their losses resulting from Tatro’s ill managed investment advice.

Tatro had a track record of recommending similar investments to all clients, regardless of their individual financial circumstances or age. Among these allegedly unsuitable investments were Real Estate Investment Trusts (REITs) and leveraged inverse exchange traded funds (ETFs), which lacked a ready market and are generally considered highly unsuitable for many investors, especially when held long-term.

We also represented a lottery winner who filed a $6.3 million arbitration claim against Tatro, alleging significant losses in her savings due to his investment decisions. The client, in her mid-70s, claimed that Tatro disregarded her instructions and invested a substantial portion of her funds in high-risk ventures, resulting in substantial losses. A substantial recovery was made for that client as well.

Case Points:

  1. Mr. Tatro’s record with FINRA revealed over 60 customer complaints, lawsuits, and settlements, totaling more than $3,000,000 in payments to his customers
  2. In 2003, Mr. Tatro faced lawsuits from several clients, including his former mistress, in Federal Court in Rochester, alleging mismanagement of their accounts.
  3. Mr. Tatro is currently not licensed as a stockbroker anywhere in the United States and barred from FIRNA
  4. In September 2010, Mr. Tatro and his wife, Caprice Mallett, transferred their clientele to Morgan Stanley upfront payment of $4 million. However, Morgan Stanley later terminated Ms. Mallett’s employment upon discovering Mr. Tatro’s continued involvement with the clients, Ms. Mallett is also barred from the industry.

If you feel that you have been a victim of a similar investment situation, please contact our law firm for a free consultation to discuss your case. BOOK YOUR FREE CONSULTATION HERE